Pictet Asset Management Holding SA Boosts Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Pictet Asset Management Holding SA boosted its position in shares of Illinois Tool Works Inc. (NYSE:ITW) by 5.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 348,730 shares of the industrial products company’s stock after purchasing an additional 17,780 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Illinois Tool Works were worth $88,424,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC lifted its position in Illinois Tool Works by 4.1% in the 3rd quarter. FMR LLC now owns 998,459 shares of the industrial products company’s stock valued at $261,666,000 after acquiring an additional 39,445 shares in the last quarter. Townsquare Capital LLC raised its stake in shares of Illinois Tool Works by 12.2% in the third quarter. Townsquare Capital LLC now owns 8,946 shares of the industrial products company’s stock worth $2,344,000 after purchasing an additional 970 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in shares of Illinois Tool Works by 17.5% during the third quarter. Public Sector Pension Investment Board now owns 8,043 shares of the industrial products company’s stock valued at $2,108,000 after purchasing an additional 1,200 shares in the last quarter. Captrust Financial Advisors boosted its position in shares of Illinois Tool Works by 9.9% during the third quarter. Captrust Financial Advisors now owns 39,704 shares of the industrial products company’s stock valued at $10,405,000 after buying an additional 3,581 shares during the last quarter. Finally, Kolinsky Wealth Management LLC purchased a new position in Illinois Tool Works in the 3rd quarter worth about $207,000. 79.77% of the stock is currently owned by institutional investors.

Insider Activity at Illinois Tool Works

In other Illinois Tool Works news, CFO Michael M. Larsen sold 41,472 shares of Illinois Tool Works stock in a transaction on Friday, March 7th. The shares were sold at an average price of $271.25, for a total value of $11,249,280.00. Following the sale, the chief financial officer now directly owns 50,502 shares in the company, valued at approximately $13,698,667.50. The trade was a 45.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ernest Scott Santi sold 70,000 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $263.30, for a total transaction of $18,431,000.00. Following the transaction, the director now directly owns 260,224 shares of the company’s stock, valued at $68,516,979.20. This trade represents a 21.20 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 159,925 shares of company stock valued at $42,973,845. 1.26% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on ITW shares. JPMorgan Chase & Co. dropped their price target on shares of Illinois Tool Works from $300.00 to $295.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Citigroup dropped their target price on shares of Illinois Tool Works from $279.00 to $265.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Wells Fargo & Company decreased their target price on shares of Illinois Tool Works from $250.00 to $245.00 and set an “underweight” rating for the company in a research note on Thursday, February 6th. Truist Financial raised their price target on Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, StockNews.com downgraded Illinois Tool Works from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $268.30.

Illinois Tool Works Trading Down 2.2 %

Illinois Tool Works stock opened at $246.34 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.99 and a debt-to-equity ratio of 1.90. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13. The firm has a market capitalization of $72.30 billion, a price-to-earnings ratio of 21.02, a P/E/G ratio of 4.56 and a beta of 1.13. The firm has a 50 day moving average of $258.40 and a 200 day moving average of $260.73.

Illinois Tool Works (NYSE:ITW) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.50 by $0.04. Illinois Tool Works had a net margin of 21.94% and a return on equity of 95.39%. As a group, research analysts predict that Illinois Tool Works Inc. will post 10.39 earnings per share for the current year.

Illinois Tool Works Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Monday, March 31st. Illinois Tool Works’s dividend payout ratio is currently 51.19%.

Illinois Tool Works Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.